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2017 | OriginalPaper | Buchkapitel

Export, R&D and New Products: A Model and a Test on European Industries

verfasst von : Dario Guarascio, Mario Pianta, Francesco Bogliacino

Erschienen in: Foundations of Economic Change

Verlag: Springer International Publishing

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Abstract

In this article we extend the model developed by Bogliacino and Pianta (Indus Corp Change 22:649, 2013) on the link between R&D, innovation and economic performance, considering the impact of innovation on export success. We develop a simultaneous three equation model in order to investigate the existence of a ‘virtuous circle’ between industries’ R&D, share of product innovators and export market shares. We investigate empirically—at the industry level—three key relationships affecting the dynamics of innovation and export performance: first, the capacity of firms to translate their R&D efforts in new products; second, the role of innovation as a determinant of export market shares; third, the export success as a driver of new R&D efforts. The model is tested for 38 manufacturing and service sectors of six European countries over three time periods, from 1995 to 2010. The model effectively accounts for the dynamics of R&D efforts, innovation and international performance of European industries. Moreover, important differences across countries emerge when we split our sample into a Northern group—Germany, the Netherlands and the United Kingdom—and a Southern group—France, Italy and Spain. We find that the ‘virtuous circle’ between innovation and competitiveness holds for Northern economies only, while Southern industries fail to translate innovation efforts into export success.

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Vorheriges Kapitel Knowledge Spillovers Through FDI and Trade: The Moderating Role of Quality-Adjusted Human Capital

Nächstes Kapitel Using Simulation Experiments to Test Historical Explanations: The Development of the German Dye Industry 1857–1913

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In our equations, technological and cost competitiveness are proxied by specific CIS variables accounting for R&D efforts, on the one hand, and new machinery, on the other.

In other contributions, Bogliacino and Pianta (2013a, b) and Guarascio et al. (2015) found a differentiation in the impact that demand components have on product innovation. Exports resulted as the most dynamic component having always a positive and strongly significant impact on product innovation (similar arguments are put forth by Crespi et al. 2008). Conversely, the growth of domestic demand—without distinction between consumption and demand for capital goods—has been found to have a non-significant and, in some cases, negative impact. The role of demand in fostering innovation diffusion has been discussed theoretically by Pasinetti (1981).

In firm level literature, a recent contribution by Antonelli et al. (2012) highlights the persistence of product innovation through Transition Probability Matrices on annual data. Our data structure controls for that because it is based on long differences of 4 year windows (CIS waves).

An extensive description of the revised Pavitt taxonomy is provided by Bogliacino and Pianta (2010).

Pianta et al. provide a comprehensive description of the database. CIS innovation data are representative of the total population of firms and are calculated by national statistical institutes and Eurostat through an appropriate weighting procedure. A detailed description of the procedure is provided in Bogliacino and Pianta (2013a).

The simultaneous estimation performed in 3SLS further weakens the potential estimation biases associated with lagged dependent variables with respect to the 2SLS.

The full set of results, including the dummy variables’ coefficients for all the three equations, are reported in the Appendix (Tables 12, 13 and 14).

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Titel: Export, R&D and New Products: A Model and a Test on European Industries
verfasst von: Dario Guarascio
Mario Pianta
Francesco Bogliacino
Verlag: Springer International Publishing
Buch: Foundations of Economic Change
Print ISBN: 978-3-319-62008-4

Electronic ISBN: 978-3-319-62009-1

Copyright-Jahr: 2017
DOI: https://doi.org/10.1007/978-3-319-62009-1_17

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